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Debate House Prices
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House Price Boom Starts Again.......
Comments
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We have had this one, seems like the numbers are going to rocket from 399k to 400k by the end of the year.
In June, the Council of Mortgage Lenders forecast 360,000 households to be more than three months behind with mortgage repayments.
But Ed Stansfield, housing expert at Capital Economics, today said that number will hit 375,000 or more.
The sudden rate of increase revealed by high street banks this week suggests it could be as much as 400,000.
That's a tad more than 1,000.0 -
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HousingBear wrote: »Sorry, being dim here. Do you mean the cheapest house prices since 2004?
i never stated a date but we can take 2007 if you like0 -
HousingBear wrote: »In June, the Council of Mortgage Lenders forecast 360,000 households to be more than three months behind with mortgage repayments.
But Ed Stansfield, housing expert at Capital Economics, today said that number will hit 375,000 or more.
The sudden rate of increase revealed by high street banks this week suggests it could be as much as 400,000.
That's a tad more than 1,000.
As Thrugelmir pointed out earlier.
The total number of mortgage accounts in arrears rose to 399,000 by the end of March, the FSA said, an increase of 6 percent compared with three months earlier, and up 33 percent on the year.
That pushed bad mortgage loans as a proportion of all residential borrowing to 3.64 percent, an increase of 1.23 percentage points compared with the first quarter of 2008.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
i never stated a date but we can take 2007 if you like
No, I'm still not getting your point.
I agree that 2007 was the most recent peak and that currently house prices are down to somewhere in the 2004-2005 range. But I wouldn't say that 2004-2005 was all that long ago. And there had been at least five years of rampant HPI before then.
I would estimate that the majority of those expected 400,000 in arrears come from the time up to 2007, after which transaction levels plummeted.
Or did you mean something else?0 -
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HousingBear wrote: »Still not quite sure of the relevance of your comment on 399,000 to 400,000 though.
amcluesent wrote
City experts today warned that Britain was on the brink of a mortgage crisis as tens of thousands of households struggle to repay home loans.
New figures suggest as many as 400,000 households could be failing to make mortgage repayments on time by the end of the year. The grim warning came as Lloyds Banking Group became the latest high street bank to report a surge in the number of borrowers three or more months behind in repayments.
Thrugelmir replied
This is old news. Arrears were already at 399,000 at end of quarter 1.
Quote:
The total number of mortgage accounts in arrears rose to 399,000 by the end of March, the FSA said, an increase of 6 percent compared with three months earlier, and up 33 percent on the year.
That pushed bad mortgage loans as a proportion of all residential borrowing to 3.64 percent, an increase of 1.23 percentage points compared with the first quarter of 2008.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
amcluesent wrote
Thrugelmir replied
This is old news. Arrears were already at 399,000 at end of quarter 1.
I see. I that case, would it be fair to say that we should expect a lot more than 400,000 by the end of this year?0 -
What we can expect is a hell of a lot more when interest rates go up.
It's increasing at a fair pace now, with base rates at 0.5%, and mortgage rates pretty low too (hence we keep getting told to buy now while mortgage rates are low).0 -
HousingBear wrote: »I see. I that case, would it be fair to say that we should expect a lot more than 400,000 by the end of this year?
That is as maybe but the article said they were forecasting 400k.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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